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2017 Colorado Revised Statutes
Title 38 - Property - Real and Personal
Real Property
Article 33.5 - Cooperative Housing Corporations - Housing for Members
§ 38-33.5-105. Provisions to be included in proprietary lease or right of tenancy issued by corporation
Universal Citation: CO Rev Stat ยง 38-33.5-105 (2017)
(1) Every stockholder of a cooperative housing corporation shall be entitled to receive from the corporation a proprietary lease or right of tenancy document which shall include the following provisions:
(a) That no sublease in excess of one year, amendment, or modification to such proprietary lease or right of tenancy in the property shall be permitted or created without the lender's prior written consent; and
(b) That the security for a loan against the tenant-stockholder's interest shall be in the nature of a real property security interest, and any default of such loan shall entitle the lender to treat such default in the same manner as a default of a loan secured by real property.
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